After amending provisions relating to the interests of home loans, the
taxation of firing reimbursements and the withholding of tax relief,
the new tax bill was submitted Tuesday to Parliament. The Parliament's
relevant committee will discuss the bill on Holy Monday and Holy
Tuesday, while the Parliament's Plenum will start discussing it as of 8
April. It appears, though, that more corrections will be made during
the debate.

G. Petalotis: "Nobody Will Be Excluded"

"We will make no exceptions," stressed government spokesman Giorgos
Petalotis, who admitted that there are parts of the public sector that
may have special needs. "However, due to the urgent situation the
country and its economy have plunged into, mostly because of the ND
policies, no one can be excluded," argued Petalotis.
News item: 34722

Prior to the opening of the 25 March EU Summit, tough talks are
underway among the 27 EU leaders with a view to brokering a deal on the
setting up of a safety net for member-states plagued by fiscal
problems. It is estimated that the agreement will include the
International Monetary Fund's involvement, as requested by Germany. EU
Commissioner for Monetary Affairs Olli Rehn called for a political
decision on the support mechanism governed by the single currency bloc.
Otherwise, as he claimed, the eurozone might be hit by turmoil. He also
offered his backing to the proposal made by France and Spain. The two
EU nations called for an emergency eurogroup meeting before the EU
summit.

Rehn: Support Mechanism Is Necessary

EU Commissioner for Monetary Affairs Olli Rehn forecast serious
implications in the eurozone, in case the European Union fails to come
up with a solution. Rehn called for a support mechanism monitored and
controlled by Europe.

A few hours ahead of the crucial EU Summit, Olli Rehn welcomed the
proposal calling for a session of the Eurozone countries' leaders ahead
of the EU Council Summit tomorrow so that a decision to be taken for
the establishment of a mechanism to aid Greece.

The EU Commissioner claimed that the single currency union has found
itself in a threshold where Greece will either cause serious problems
or Europe will learn a lot from the crisis.

Eyes Fixed in Berlin

All eyes have been fixed on Berlin and Chancellor Angela Merkel's
stance. A Di Welt report read that Germany is ready to offer its
backing to an agreement on support mechanism to debt-stricken nations
at the eurogroup meeting.

Berlin, however, does not have concluded on its moves, since the
government coalition appears to be split. The Merkel administration
wishes to see the International Monetary Fund have an active role in
any aid package to Greece. However, the country's Finance Minister
claimed that an IMF involvement could be detrimental to the single
currency.
News item: 34721

Prime-minister, G. Papandreou is having a heavy schedule in Brussels
aimed to change correlations regarding EU Commission support mechanism
for Greece. Reports quoting a source- asked not to be named- say that
European Socialists are likely to outline their plans for the creation
of a borrowing mechanism to support euro region member, adding that it
was expecting the EU to show solidarity and political support.

European Socialists Support Mechanism

European Socialist leaders are expected to outline plans for the
creation of mechanism to borrow Greece during their meeting on Thursday
in the presence of Greek Prime-minister G. Papandreou.

The plan will be presented shortly before the EU Summit meeting and
backed by Spanish Prime-minister and EU president Jose Sapatero. News
agencies report under the plan for a so-called European mechanism for
financial stability, a fund would be set up to borrow money in
financial markets and lend it on to Greece.

In a report seen by Reuters, party officials who consulted with the
EU's lending arm, the European Investment Bank, write: "The trustee
fund can borrow on the markets, using the (European) Commission's
expertise on bond issues."

"With the money thus raised, the fund can then lend money to the member
state which needs it," they said. "The agreement details a credible
medium term strategy, aimed at putting the recipient member state back
onto the right track, with a solidarity support, but not with grants."

LAOS president, George Karatzaferis had a meeting on Wednesday with
former prime-minister Kostas Simitis within the context of his contacts
with former prime-ministers. The meeting took place in Mr. Simitis
office in the Parliament building and lasted 35 minutes. In his
statements after the meeting, Mr. Karatzaferis said former
prime-minister Simitis had clear views and ideas and was a reserve
official who could be invited to express his opinion. G. Kratzaferis
said he was satisfied at the outcome of the meeting, adding that Mr.
Simitis could highly contribute with his knowledge for the resolution
of the problem the country was facing.

In response to whether he would try to meet with Kostas Karamanlis, G.
Karatzaferis described as unseemly behavior not to try to meet with Mr.
Karamanlis after having met with the other two former prime-ministers.
On his part, Mr. Simitis did not make any statements.

Customary students' parade in front of the Unknown Soldier to mark
March, 25, 1821 national day took place in Athens, on Wednesday.

Athens students opened national day celebrations that culminate on
Thursday with the grand military parade in the Athens center.

During the parade, a small group of teachers staged a demonstration in
protest against the government's economic and educational policy.

"History is in our side" said Education Minister Anna Diamantopoulou,
adding "during this dramatic period for our country, we all have the
duty to achieve and place we against I". Statements by representatives
of opposition political parties were in the same line with all
expressing optimism that Greece would overcome the present financial
crisis.

An unprecedented Turkish provocation occurred at the early hours on the
eve of the national day. Specifically, a Turkish corvette in Greek
territorial waters at 02:00, on Wednesday broadcast message to sailing
near cargo ship "Archangel" asking the captain to give details of the
route followed. Five minutes earlier Greek frigate "Krystallidis"
closely monitoring the moves of the Turkish navy craft sent message
that it was " violating the basic rule of innocent passage".

At 02:30, the Turkish corvette left Greek territorial waters and
entered international waters south of the island of Chios. Only navy
and port authority ships of the country to which territorial waters
belong has the right to ask for sailing ship details.

Prime-minister G. Papandreou visited OKANA Rehabilitation Center on
Wednesday morning. Health undersecretary, Fofi Gennimata, in an
interview on Tuesday, described the situation as dramatic underlining
that 6.000 drug addicts are on a waiting list for over 6 years hoping
to join the rehabilitation program.

The leadership of the Health Ministry has denounced that the former
conservative ND government had proceeded to mass hiring to man
rehabilitation centers which had not been created. Mrs. Gennimata said
for 2007 debts of Drug Abuse Prevention Centers mounted to 14 million
euros and OKANA to 15 million euros.

US President Barrack Obama and Israeli President Benjamin Netanyahu met
within closed doors on Tuesday, at the White House. The meeting came
amid tensions between the two governments over Israel's decision to
build new Jewish housing in disputed parts of East Jerusalem. The US
President Obama is said to be angered at the approval of plans for
construction of 1.600 homes in East Jerusalem, which Palestinians see
as their future capital.

Crucial Period for US-Israel Relations

The two leaders did not make any statements after the two meetings they
held at the White House. Netanyahu, after his first meeting with US
President Obama, asked to have talks with his aides. One hour later he
asked for a second meeting with Barrack Obama, who received him at the
Oval Office.

The meeting- the Israelis describe in a "good atmosphere"- was held in
a period particularly crucial on relations between the two allies, as
Washington has strongly reacted to Israeli plans for construction of
settlement announced last month.

"Jerusalem is not a settlement. It's our capital", said Netanyahu in a
press conference after an event organized by pro-Israeli lobby in
Washington one day before his meeting with US President.

Earlier, Mr Netanyahu had warned "US support to illogical and
unreasonable Palestinian demands for freeze on settlement building
could put the peace negotiations on hold for another year".